The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1887-06-24

I wild nay % shs Cha~ase nesse -
Trade -nrlm usas - lnnlns nnd Aeee9s
the bottom Out az tho ssu1i rea-A ram-
hle ~ rwensy Ceats - Whsoe 49, -
Dlsasters it Entai1s4
CnrcAGo. June A-Thoreis : panic ~
the wheat pit on tho Board Of Trade thiS
afternoon. The great wheat clique y ~
terly dcmoralizcd. and - said 70 have
gone broke on to-day's sensational drof
in prices. Maritx. R,scnfeld a. ca. one
az the cliqae houses, said 70 re
porter for the United Press ~ half
mast twelve O'Clock this afternoons
This wheat clique has not kept
is engagement. and we will have 70 sus
pend" IL Is feared that . number OF
other houses will 50 70 tho wall before
night
Rosenfeid & Co.'S, failure has just been
announced on the board. Wheat declined
for June from .. 70 3. decline Of isc
per bushel-
CHICAGO. June lathe panic in wheat
yesterday resulted in the failure OF
Maurice Roscnfeld a Co. Hamiil & 3 rinc
and r. w. Bailey 4 Co. and In the serious
embarrassment or & J. kershaw & Co
Settling clerks. messenger boys and
anxious brokers focked into the ONCE OF
the latter frm in the afternoon 20 inquire
for a statement from the firm a is
standing. but no statement could % OBJ
tanned. In the evening the firm caused y
20 be announced that was expected that
funds would be forthcoming to- day 70 pay
ali differences. 1t is believed that should
Kershaw a Co. fail 70 meet their heavy
obligations today not less than twelve
well known firms will 60 down
Stone Of the Board Of Trade said II was
q matter Of great surprise that more fail
ures did not result The trade generally
he thought, had kept itself well protected
and had shown remarkable firmness ~
view az the severity Of the shock 40
much business vas done on chan Sc yester'
day as would ordinarily Be done In An
entire week.
Mr. Hamill, senior me mber OF the sus
pended firm OF Hamill 4 Brine, said that
the drop came so quickly that they did
not have lime 10 call or collect margins
The closing out OF all trades aud thei
temporary suspension were Tor the pur-
pose Of self-protection- The clerks were
working on the books, and settlements
would be made, he declared. a. fully an
quickly as possible.
+. W. Bailey. whose house failed, SAID
the whole thing was 50 unexpected tina
they had not time 10 realize what had
taken place before the bottom was struck
They were called for about twenty thou
sand dollars margins, and called sheii
customers for about ten thousand dollars
They would not be able 10 tell how thel
stood until to-day
Joseph r 1senbanm 4 Co is one Of thu
firms whose fate depends on the solyenc,
Of Kershaw T. 20. They are long on'
hundred thousand bushels 81 wheat .
ninety-two. and their loss wall ap
proximate twenty thou sand dollars. and
unless certain din srences are paid them
by Kershawi il Is expected they will g. <
1 the wall.
President A. NJ Wright OF the Boar
Of Trade said that the break yesterda,
! was the biggest and most rapid he has
( the occasion Of John b Lyons 4 CO..
failure in is7,, when wheat broke RICH
I On from <165 10 sll3 per brshel-
/ wiltshire. the supposed leader Of TIT
! Cincinnati clio ne. was here Saturday
Sunday and Monday. and Il was well
known among the shorts that repeate'
interviews occurred between hir
and his Chicago brokers .
the Rlchelieu. and IN consequence
the latter were closely watched
Kershaw was noticed leaving the last con
ference Monday night In such troubles
spirits that certain OF the watchful short
scented the trou ble. and ~ soon - trad
ing began IN tbs morning acted upon thei
impressions.
Leopold Bloom who has gained consid-
cradle notorictv asa scalper. - said =
have cleared seventy thousand dollars o.
the decline. The break did not serious l
affect the buck st-sh0ps- Some OF ther
lost money. but not enough 70 close ther
up. Said one Of the sharpests: Il va
heavily called when went short an
called back what supposed would Pr
fect me. but there Is now over $1,000
nv favor in one trade with suspende
house, and ! have q number OF Other
that are in an equally bad shape"